Long Term Care Insurance
An employer may sponsor individual long term care insurance policies that may be purchased at a discount. Long Term Care Insurance means not only care in a nursing home, but also nursing care in your own home to help with the daily activities of living such as dressing, eating, toileting, bathing, continence, and transferring.
Services provided by Arnold K. Davis Insurance under this group employee benefit would include institutional care, i.e. nursing facilities and assisted living facilities. Non-institutional care would include home health care, personal care, adult day care, respite care and hospice care.
When implementing a policy, care should be given to the following: monthly benefit to be paid, the elimination period (deductible before claim payments begin), the benefit period (how long will the carrier pay a claim), and an inflation factor so the monthly benefit increases as costs for care increase. Decide what your budget is and let our advisor guide you so that your assets are preserved should you need care.